Moody National Bank Trust Division Sells 23,118 Shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Moody National Bank Trust Division reduced its holdings in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWSGet Rating) by 57.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 16,976 shares of the company’s stock after selling 23,118 shares during the period. Moody National Bank Trust Division’s holdings in Zurn Elkay Water Solutions were worth $463,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC boosted its position in shares of Zurn Elkay Water Solutions by 5,992.3% during the 1st quarter. Lindbrook Capital LLC now owns 792 shares of the company’s stock valued at $28,000 after acquiring an additional 779 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Zurn Elkay Water Solutions during the 1st quarter valued at about $64,000. Maverick Capital Ltd. acquired a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter valued at about $93,000. Advisor Group Holdings Inc. acquired a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter valued at about $169,000. Finally, Kepos Capital LP acquired a new stake in shares of Zurn Elkay Water Solutions during the 4th quarter valued at about $170,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ZWS shares. KeyCorp decreased their target price on shares of Zurn Elkay Water Solutions from $36.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. Mizuho reduced their price target on shares of Zurn Elkay Water Solutions from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, June 2nd. The Goldman Sachs Group reduced their price target on shares of Zurn Elkay Water Solutions from $39.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Stifel Nicolaus initiated coverage on shares of Zurn Elkay Water Solutions in a research report on Wednesday, June 29th. They issued a “buy” rating and a $34.00 price target on the stock. Finally, Robert W. Baird reduced their price target on shares of Zurn Elkay Water Solutions from $38.00 to $34.00 in a research report on Wednesday, July 27th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zurn Elkay Water Solutions has a consensus rating of “Buy” and a consensus target price of $35.67.

Zurn Elkay Water Solutions Stock Down 2.1 %

Shares of NYSE:ZWS opened at $26.08 on Monday. Zurn Elkay Water Solutions Co. has a 52 week low of $25.90 and a 52 week high of $38.31. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.43 and a current ratio of 2.44. The company has a market capitalization of $4.64 billion, a PE ratio of 51.14, a PEG ratio of 1.28 and a beta of 1.32. The company has a 50 day moving average price of $29.08 and a two-hundred day moving average price of $30.48.

Zurn Elkay Water Solutions (NYSE:ZWSGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $278.77 million. Zurn Elkay Water Solutions had a net margin of 4.90% and a return on equity of 30.72%. During the same quarter in the prior year, the company earned $0.58 earnings per share. Analysts forecast that Zurn Elkay Water Solutions Co. will post 1.02 earnings per share for the current year.

Zurn Elkay Water Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Friday, August 19th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, August 18th. This is a boost from Zurn Elkay Water Solutions’s previous quarterly dividend of $0.03. Zurn Elkay Water Solutions’s dividend payout ratio is 54.90%.

Zurn Elkay Water Solutions Company Profile

(Get Rating)

Zurn Elkay Water Solutions Corporation designs, procures, manufactures, and markets water system solutions that provide and enhance water quality, safety, flow control, and conservation in and around non-residential buildings. It offers finish plumbing, drainage and interceptors, water control and backflow, fire protection, PEX pipe fittings and accessories, and repair parts under the Zurn brand name; and hand and hair dryers, and baby changing stations under the World Dryer brand name.

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Institutional Ownership by Quarter for Zurn Elkay Water Solutions (NYSE:ZWS)

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